Finance is a country’s important core competitiveness, financial security is an important part of national security, and the financial system is an important fundamental system in social development. Following the law of financial development, The Mission of China’s Finance in the New Era, in the great historical transformation period when China is marching towards the new era, focuses on “finance serving the real economy, preventing financial risk, and deepening financial reform development priorities”, discusses how to innovate and improve financial regulation, improve the modern financial system, promote the establishment of a financial regulation framework, transform the financial development model, and improve the foundation and legal rules of the financial legal system; on grasping finance work’s four important principles -- “returning to the origin, optimizing structure, strengthening supervision, and being market-oriented”, the book puts forward such suggestions as improving the financial market, optimizing financial institutions and financial system, and improving financial risk prevention & control capability. 

About the Author

Green Legal Global Alliance (GLGA) Research Institute 

The Green Legal Global Alliance (GLGA) Research Institute is an organization under Green Legal Global Alliance (GLGA) that is engaged in basic research, innovation research, cross-over research and frontier research, a base for gathering, discovering and cultivating the industry's backbone force, and an unofficial, semi-tight and industry-wide think tank. Green Legal Global Alliance (GLGA) Research Institute works closely with industry alliances, internal organizations and member units in GLGA as well as clients, partners, colleges and universities, industry associations and expert organizations outside the alliance to study and explore the pain points, difficult problems, hot topics and frontier issues in the process of the industry’s development, and puts forward practical, effective solutions, helping to find new space in the industry and innovate the operation model. At the same time, by establishing and improving its talent cultivation mechanism, cultivating backbone force and cross-industry talents, the research institute is committed to becoming China's most valuable think tank in the legal profession.

Key highlights 

What is the nature of finance? I think there are three aspects: 1. The creation of credit money, i.e. monetary policy; 2. Contract of inter-temporal transfer of value; and 3. Time mismatch risk management. All financial activities, whether investment, financing or payment, have a delayed transfer of value, and a contract should be concluded therefore, and the core is risk management. 

—— WU Xiaoling, member of NPC Standing Committee, NPC Financial and Economic Committee Vice Chairman, and former deputy governor of the People’s Bank of China 

Against the background of the vibrant domestic financial industry, China has become a paradise for enterprise innovation; especially, in the field of Fin Tech, China has become a world leader in a certain sense. 

—— HE Liping, Director of Institute of International Finance, School of Economics and Business Administration, Beijing Normal University

In the continuous financial innovation, the scopes of products and services provided by financial institutions and the boundary between financial institutions and financial market are constantly changing, and institution regulators are faced with severe challenges from regulatory overlap and regulatory gaps, and thus the concept of “functional regulation” begins to get wide attention. 

—— LI Zhuyong, Director of Legal Department of PICC, and Chairman of the Insurance Association of China (IAC) Specialized Committee on Law

We shall extricate ourselves from financial superstition; the complex structure and derivative instruments of American financial market are not the right choice for the modern economy at all, instead, concision is the philosophy of the financial market. It has been proved that greed will break all the dykes. 

—— Zhang Yundong, former Director of Shenzhen Securities Regulatory Bureau, China Securities Regulatory Commission (CSRC), and senior researcher at CITIC Institute of Reform and Development

Constructing and cultivating non-bank financial institutions will push long-chain finance to a higher stage. The improvement of long-chain finance will promote the growth of long-chain market and the structural optimization and upgrade of long-chain industry. 

—— CAO Heping, professor of economics at Peking University, and senior researcher at CITIC Institute of Reform and Development

While injecting vitality into financial development, Internet finance also brings new challenges to financial regulation in China; In the process of its rapid development, some problems and risks are exposed. 

—— LIU Guangchao, President of Green Legal Global Alliance (GLGA), Director of Beijing DOCVIT Law Firm, and entrepreneur member of Chinese Economists 50 Forum (CE50) 

Insist on seeking truth from facts, practice the Chinese path, and develop the Chinese school of thought. The “CHINA ROAD” series is committed to becoming an incubator of China's theoretical innovation, a discussion & communication platform for Chinese School, a think tank that offers advice and suggestions, and a pulpit to spread ideas and unite people. The Green Legal Global Alliance (GLGA) Research Institute will continue to "keep up with the world and walk with the masters", and work conscientiously to make more research achievements that respond to the concerns of the times and that focus on major issues in China's development and reform.